JSS 1 Business Studies Flashcards: Generating and Selecting Viable Business Ideas

Question 1

How is an affordable lunch-delivery proposal designed to meet a real need best described?

Accepted Answer

a proposed product or service that can satisfy a need

Question 2

Before proposing products, what first step should an entrepreneur take?

Accepted Answer

identify a customer need or problem

Question 3

Pupils queue a long time for water each break. Why is observing this behaviour useful to an entrepreneur?

Accepted Answer

to discover unmet needs

Question 4

During brainstorming, a team lists many possible solutions without rejecting any immediately. What does the exercise produce?

Accepted Answer

many possible ideas without immediate judgement

Question 5

Twenty ideas have been listed. Name the next stage used to remove weak ones.

Accepted Answer

screening the ideas

Question 6

What makes a soap idea feasible when the required skills, tools and money are within reach?

Accepted Answer

it can be carried out with available resources

Question 7

What makes a soap idea viable when buyers want it and revenue can sustain it?

Accepted Answer

it can attract customers and sustain itself

Question 8

Why should demand be checked when friends praise an idea but no target customers will pay?

Accepted Answer

people must be willing and able to buy

Question 9

Rent, equipment and first stock total ₦120,000. What does this start-up cost show?

Accepted Answer

money required to begin

Question 10

Why should an entrepreneur study the two food vendors already serving the area?

Accepted Answer

to find threats and opportunities for difference

Question 11

How is the target customer for a schoolbag offer best described?

Accepted Answer

the specific buyer an offer is designed for

Question 12

How is a lunch service's promise of safe food before the bell best described as a value proposition?

Accepted Answer

the benefit that makes an offer worth choosing

Question 13

A school has no affordable lunch delivery. The entrepreneur has identified a ____.

Accepted Answer

a customer problem

Question 14

Profit alone is not enough; a sound idea must first address ____.

Accepted Answer

a genuine customer need

Question 15

An otherwise profitable idea breaks safety law. Why must it be rejected?

Accepted Answer

an unlawful idea cannot be responsibly operated

Question 16

A skilled baker considers a cake venture while a novice considers the same plan. Explain why their feasibility may differ.

Accepted Answer

relevant skill improves ability to execute

Question 17

A short questionnaire asks likely buyers about price and flavour. What is being tested?

Accepted Answer

interest and preferences

Question 18

Before renting a large shop, a seller offers twenty sample packs. Why begin with this small trial?

Accepted Answer

it tests the idea before major commitment

Question 19

Expected monthly cost is ₦90,000 but likely revenue is ₦60,000. Judge the idea's financial viability.

Accepted Answer

financially unviable

Question 20

Idea A has demand but exceeds available resources; Idea B has demand, workable cost and clear value. Apply the screening criteria and select ____.

Accepted Answer

the one best meeting demand, feasibility and value criteria

Strong work.